Skip to content
International Adviser
  • Contact
  • Subscribe
  • Regions
    • United Kingdom
    • Middle East
    • Europe
    • Asia
    • Africa
    • North America
    • Latin America
  • Industry
    • Tax & Regulation
    • Products
    • Life
    • Health & Protection
    • People Moves
    • Companies
    • Offshore Bonds
    • Retirement
    • Technology
    • Platforms
  • Investment
    • Equities
    • Fixed Income
    • Alternatives
    • Multi Asset
    • Property
    • Macro Views
    • Structured Products
    • Emerging Markets
    • Commodities
  • IA 100
  • Best Practice
    • Best Practice News
    • Best Practice Awards
  • Media
    • Video
    • Podcast
  • Directory
  • My IA
    • Events
    • IA Tax Panel
    • IA Intermediary Panel
    • About IA

ANNOUNCEMENT: Read more financial articles on our partner site, click here to read more.

UK advisers struggling with pension tax rules, says Prudential

8 May 17

A growing number of UK financial advisers are struggling to get to grips with the country’s complex pension regulations and tax planning, latest figures from Prudential reveal.

A growing number of UK financial advisers are struggling to get to grips with the country’s complex pension regulations and tax planning, latest figures from Prudential reveal.

In the first three months of 2017, the Prudential Adviser Helpline team dealt with 5,285 enquiries from advisers, around 1,000 more than the same period last year.

Overall, the service had more than 14,000 enquiries from intermediaries in 2016.

The most common requests for help involved the annual allowance and the lifetime allowance, which accounted for more than 1,000 enquires or nearly 20% of all queries.

Other common topics advisers requested help on include trust planning, appointing trustees, and calculating chargeable events, as well as pensions transfers, tax relief and death benefit options.

Les Cameron, head of technical at Prudential, said: “The large number of enquiries received by the Prudential Adviser Helpline highlights how many advisers are struggling to keep pace with the huge amount of regulatory change that has occurred over the past two years.

“For example, advisers are struggling to understand the complexities of the tapered annual allowance and are turning to our technical experts for help. 

“That is not surprising because the rules are extremely complex and take into account all workplace benefits when calculating annual income.”

Tags: Prudential

Share this article
Follow by Email
Facebook
fb-share-icon
X (Twitter)
Post on X
LinkedIn
Share

Related Stories

  • Industry

    ASIC suspends MW Planning’s licence over failure to replace banned manager linked to Shield

    Industry

    UK finance firms join forces to launch retail investment campaign

  • Heather Hopkins

    Industry

    MPS assets surge 32% to £190bn as adviser usage grows

    Latest news

    FCA fines Nationwide Building Society £44m for AML failings


NEWSLETTER

Sign Up for International
Adviser Daily Newsletter

subscribe

  • View site map
  • Privacy Policy
  • Terms and Conditions
  • Contact

Published by Money Map Media – part of G&M Media Ltd Copyright (c) 2024.

International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.